4castplus Blog

4castplus Blog

15 15, 2018

Vendor Accruals... Are You Keeping Track?

You thought you had your project all wrapped up when, SURPRISE, vendor invoices just keep coming in.  Whoops, things didn’t go as well as you thought. The costs on your project keep soaring, and you have to keep updating your project reports to your superiors.



Why Vendor Invoices Keep Coming In

This happens because vendors rarely invoice you at the time they completed the work, or delivered the materials.  The problem is, if you wait until vendors invoice you to show the cost on your project, then you’re in for a lot of surprises.

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04 4, 2017

Using Rules of Credit for Percent Complete in 4castplus

How do you figure out percent complete on a project? How is it you go about objectively assigning a reasonable and accurate measurement of how far along you are on an item of work? How many times have you asked, “Hey, where did that number come from?”

Most any manager, VP or director who has to oversee the work of his or her team of project managers has a big worry about this very thing. They know the temptation that exists for a project manager to leverage a little creative license with the numbers to make the project look a little rosier than it is in reality. Customers on the receiving side of a progress draw are equally aware of the tendency to big-up the progress numbers in order to fatten the invoice.

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26 26, 2017
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03 3, 2017

Measuring Project Progress: Rules of Credit and Weighted Steps Progressing

Any organization that executes on major projects will know the importance of gathering information on how far along they are on a project. In other words, evaluating Percent Complete. Evaluating that by activity, by phase, by project, etc.  At 4castplus, we refer to this as a "Progress Measurement" and it serves as a critical function for calculating analytics such as Earned Value Management (EVM) metrics. Measuring progress however, is a tricky thing to do; and can cause companies to not bother with it if they don’t have a good system and process in place. This is unfortunate as it is a vital part of project management and project controls on major projects. Without it, you’re flying in the dark.

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29 29, 2017

Taking the Leap? 10 Questions You Need to Ask When Looking at Construction Procurement Software Solutions

Your choice of construction procurement software can have a significant influence on the costs, productivity and success of your projects. If you’re looking for a software solution to enable the management of procurement on your construction projects, you want to make sure your teams are armed with the right amount of power and ease of use – after all, a significant amount is riding on what happens in procurement. For most major projects, a substantial portion of the total project costs are issued through purchase orders and subcontracts. You really need to get that right! 

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31 31, 2016
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01 1, 2016
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27 27, 2012
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